Endava (NYSE:DAVA) Shares Down 5.6% - Should You Sell?

Key Points

• Endava PLC's shares fell by 5.6%, dropping from $13.41 to around $12.65, indicating a significant decline in stock performance.
• Analysts have mixed views on DAVA, with TD Cowen downgrading the stock from "buy" to "hold" with a price target of $17, while others like Guggenheim maintain a "buy" rating with a target of $25.
• Over 62% of Endava’s stock is held by hedge funds and institutional investors, reflecting strong interest in the company despite recent stock volatility.

Shares of Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) traded down 5.6% on Friday . The stock traded as low as $12.62 and last traded at $12.65. 573,629 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 679,601 shares. The stock had previously closed at $13.41.

Analyst Ratings Changes

Several research analysts have issued reports on DAVA shares. TD Cowen lowered Endava from a "buy" rating to a "hold" rating and set a $17.00 price target on the stock. in a report on Thursday, May 15th. Wall Street Zen upgraded Endava from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Guggenheim restated a "buy" rating and issued a $25.00 target price on shares of Endava in a report on Tuesday, June 10th. Needham & Company LLC increased their price target on shares of Endava from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Cowen downgraded shares of Endava from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Endava currently has an average rating of "Hold" and a consensus price target of $25.22.

Endava Stock Performance

The company has a 50-day moving average of $14.30 and a 200 day moving average of $19.14. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $748.26 million, a PE ratio of 33.33 and a beta of 1.12.

Hedge Funds Weigh In On Endava

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DAVA. Quantbot Technologies LP purchased a new position in shares of Endava in the 1st quarter worth about $25,000. GAMMA Investing LLC lifted its stake in shares of Endava by 81.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,683 shares of the company's stock valued at $26,000 after acquiring an additional 753 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Endava by 733.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company's stock valued at $29,000 after acquiring an additional 1,680 shares during the last quarter. State of Wyoming raised its position in Endava by 112.7% during the 1st quarter. State of Wyoming now owns 2,367 shares of the company's stock valued at $46,000 after purchasing an additional 1,254 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Endava by 23.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company's stock valued at $72,000 after purchasing an additional 689 shares during the last quarter. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.

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